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Basic rate on wage percentage

saxo_appeal Avatar
5y, 9m agoPosted 5 years, 9 months ago
Does anyone know what the basic rate (emergency tax) percenatge is??
saxo_appeal Avatar
5y, 9m agoPosted 5 years, 9 months ago
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(20) Jump to unreadPost a comment
Comments/page:
#1
40%
#2
Jesus god!!!
#4
you get it back though, so dont panic!
1 Like #5
My basic rate is 20%? I use all of my tax allowance with my contract job, I do a few extra hours (same place of work) through an agency which my tax code is br, 20% is taken
#6
I don't earn between this though:

Higher tax rate 40% on annual earnings from £37,401 to £150,000

My wage is in between this bracket:

Basic tax rate 20% on annual earnings above the PAYE tax threshold and up to £37,400


Edited By: saxo_appeal on Feb 17, 2011 18:49
#7
The emergency tax code is set each year and is a number followed by the letter L. The number is the basic Personal Allowance (£6,475 for the tax 2010-11) divided by 10. The emergency code for 2010-11 is therefore 647L.
#8
greg_68
The emergency tax code is set each year and is a number followed by the letter L. The number is the basic Personal Allowance (£6,475 for the tax 2010-11) divided by 10. The emergency code for 2010-11 is therefore 647L.


That's not 'emergency rate' though is it? That's just your rate
2 Likes #9
20% on all you earn. It just means your tax allowance isn't taken into account.
1 Like #10
So the tax rate won't be 40% then as I'm not earning between £37,000 and £150k ?
banned#11
saxo_appeal
So the tax rate won't be 40% then as I'm not earning between £37,000 and £150k ?

but you are on an emergency tax code - google should have been your first point of call as generally advice from hukd is useless in most cases

http://www.taxfix.co.uk/forum/articles/how-much-is-emergency-tax.html


Edited By: csiman on Feb 17, 2011 19:56
#12
You get loads of advice, I come here to get basic info and when 2-3 people agree then usually I go with that lol
#13
saxo_appeal
You get loads of advice, I come here to get basic info and when 2-3 people agree then usually I go with that lol
Like PaulDoc666 Says you will be charged on all your earnings as if you have used your personal allowance
#14
I thought mine was 40% when I got tasked at the emergency amount. Its because they dont know how much your going to earn, therefore they take the maximum off you. It comes back once you let them know how much your earning.

I usually have to go through this each year... and HR never know what to do
#15
Don't forget why you are paying them.. So people like that can go on living the care free life style...

Still waiting for this government to kill off some pointless benefits and stick to a core temporary backup benefit whilst people get themselves back on their feet.. Which is what the system was setup for...


http://www.dailymail.co.uk/news/article-1033712/Is-Britains-worst-family-Head-clan-250-convictions-stole-sisters-identity-net-85-000-benefits.html


http://i.dailymail.co.uk/i/pix/2008/07/09/article-0-01E51D1800000578-123_468x391.jpg
banned#16
saxo_appeal
You get loads of advice, I come here to get basic info and when 2-3 people agree then usually I go with that lol

my point was that so many people give bad / wrong advice, its hard to tell what is right whereas google gives hard facts if you search correctly. Took me 2 seconds to find the link above.

Basing it on 2-3 people agreeing is a recipe for disaster.

just my opinion of course ;)
1 Like #17
I questioned my payroll department and this is what I got back:

Question I asked was:

Hello Sybil,

Just wondering if you had received my tax code yet? I really don't want to be paying 40% off my wages if at all possible :(

Reply:

Hi Lee

In reply to your queries:

1. I have not received notification from the tax office regarding your tax code. I advise you to contact them yourselves; I am not permitted to call on someone else's behalf. The number is 0845 3000 627 do have your national insurance number to hand. By the way you are paying 20% tax not 40%.
1 Like #18
Basic Rate tax is 20%. I work in payroll. You will be taxed 20% of all your earnings. You need to ring HMRC who will issue you a tax code, and also they will send this to your employer.

Once your employer changes your tax code, providing this is before 5th April you will get all your overpaid tax back through your employer. After this date you will have to apply to HMRC to get it back..
banned#19
Yes having to pay 40% tax sucks ass. I think I'll actually cry when I have to start paying 50% :(
#20
Wheezy have sent you a pm

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